Treasury To Tackle Small-Business Challenges

The U.S. Treasury Department plans to host a conference next month to explore ways of reducing the challenges small businesses face in raising capital.

In a blog post Tuesday evening, Treasury Secretary Timothy Geithner said the conference would address a variety of topics, “from seed capital, to growth equity, to accessing the public markets.”

Geithner also announced that Treasury was well into implementing two new small-business lending programs signed into law in September.

The first, the $15 billion State Small Business Credit Initiative, helps credit-worthy small manufacturers and businesses obtain loans from the private sector.

Three states — California, Michigan and North Carolina — have already received funding for this program and Treasury plans to announce funding for other states soon.

Geithner also highlighted the $30 billion Small Business Lending Fund, which encourages lending to small businesses by providing low-cost capital to qualified local community banks with assets under $10 billion.

He said the first round of awards for the SBLF will be announced in the coming weeks.

Comments (2 of 2)

Wrong figure --- The State Small Business Lending Initiative is 1.5 Billion, not 15 Billion. Check your facts!!

3:50 am February 24, 2011

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America’s entrepeneurs are executives who build companies from the ground up. In Charge provides news, analysis and in-the-trenches commentary about small-business management. Produced by Sarah E. Needleman, Emily Maltby and Angus Loten, with contributions from the Wall Street Journal staff and others. Have a comment or tip? Write to incharge@wsj.com.